The Home Depot, Inc. (NYSE:HD) Shares Sold by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC trimmed its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,238 shares of the home improvement retailer’s stock after selling 1,319 shares during the period. Home Depot accounts for about 2.6% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 16th biggest holding. Abner Herrman & Brock LLC’s holdings in Home Depot were worth $15,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in Home Depot by 0.4% in the first quarter. State Street Corp now owns 45,622,114 shares of the home improvement retailer’s stock worth $13,656,067,000 after purchasing an additional 180,532 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares during the last quarter. Norges Bank bought a new position in Home Depot in the fourth quarter worth about $4,325,629,000. Fisher Asset Management LLC lifted its holdings in Home Depot by 3.9% in the first quarter. Fisher Asset Management LLC now owns 8,134,863 shares of the home improvement retailer’s stock worth $2,435,009,000 after acquiring an additional 303,885 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Home Depot by 12.2% in the fourth quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer’s stock worth $2,166,946,000 after acquiring an additional 566,462 shares during the last quarter. 68.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HD has been the topic of a number of recent research reports. Guggenheim raised their target price on shares of Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Morgan Stanley raised their target price on shares of Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. MKM Partners assumed coverage on shares of Home Depot in a report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 target price on the stock. Raymond James lifted their price target on Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Finally, Evercore ISI cut their price target on Home Depot to $360.00 in a report on Thursday, June 9th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $365.95.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the transaction, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction on Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares of the company’s stock, valued at approximately $1,857,646.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the sale, the executive vice president now directly owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Home Depot Trading Down 0.9 %

Home Depot stock opened at $269.14 on Friday. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18. The firm has a market cap of $275.53 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. The firm’s 50 day moving average price is $299.46 and its two-hundred day moving average price is $299.57.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.95 by $0.10. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The firm had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. During the same quarter in the previous year, the business posted $4.53 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 2.82%. The ex-dividend date was Wednesday, August 31st. Home Depot’s payout ratio is 46.71%.

Home Depot announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 18th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

See Also

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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